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Business Loan Or Line of Credit?
May 31st, 2008 by admin
Upon goring my business I need to make certain investments, which cost money that at this particular time I do not have. I was wondering if you’re self-employed, and you have your own business, and need to borrow money so that you can expand is it wise to borrow money through a business loan, or should you apply for a line of credit? I have recently found out that I am eligible for a line of credit through my bank, at a rather low interest rate, but it would then be a personal loan so to speak. So is that the way to go, or should I keep business affairs separate from personal affairs, and pay a higher interest rate through I business loan?
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